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Bahri seeking diversification investment opportunities

Bahri seeking diversification investment opportunities
The National Shipping Company of Saudi Arabia (Bahri) is exploring investment opportunities across various maritime sectors to diversify its activities.

The company's strategic plan, spearheaded by ceo Ibrahim Abdulrahman Al-Omar, aims to increase its returns while keeping risk at a minimum level.

Bahri is currently receiving the fleet of compatriot Vela Marine International after the two companies completed the largest merger in the history of the Saudi market. A dozen of Vela's 14 VLCCs have already been delivered to Bahri, and a storage VLCC and five product carriers will also be transferred in the deal, along with Vela's crews and some of its staff and operating systems.

As part of that merger, Bahri became the exclusive maritime carrier of Saudi Aramco's crude oil on a delivered basis to customers with giant oil tankers.

Bahri is a platinum sponsor of, and will be exhibiting at, Seatrade Middle East Maritime. The exhibition and conference will take place from 28-30 October and Bahri will be at stand M1.

Al-Omar, Bahri ceo, said that the company's participation comes as part of its leading position among major international shipping companies. "This event provides an opportunity to discuss various maritime issues, including best business practices, available opportunities and future projects for the shipping sector. To be explored also is the investment in infrastructure development and its impact on the economic level in regional countries over the coming years."